The BBB Institute for Marketplace Trust, the educational foundation of the International Association of Better Business Bureaus, is pleased to welcome PayPal (NASDAQ: PYPL), a BBB Accredited Business, as a new member of its Corporate Trust Council.
The Council is a coalition of select companies that partner “with BBB Institute to foster a trustworthy marketplace by providing expertise, resources, and funding support.”
David Szuchman, SVP, Head of Global Financial Crimes and Customer Protection at PayPal, said:
“We believe that proactive cross-sector collaboration plays an essential role in creating a safer online future for all. The safety, security, and privacy of all PayPal users has always been a top company priority. We are excited to partner with the BBB Institute as we continue to explore new ways to further protect our customers by investing in solutions that help prevent fraud and scams from happening in the first place.”
Through this partnership, PayPal will “provide funding to sustain and grow BBB Institute’s programs and resources and expand BBB Institute’s consumer education.”
PayPal is committed to “protecting its customers and not only provides fraud monitoring tools for customers to validate, verify, and feel confident that they are in control when shopping and managing money, but also helps keep a customer’s account and financial details safe – before, during and after checkout. Every eligible transaction is protected by 24/7 fraud monitoring.”
Current members of the Corporate Trust Council include Amazon, Capital One, and Zelle®. The Council partners work together “on strategic initiatives aimed at protecting today’s consumers,” such as:
- Building a community of better businesses by developing best practices and educational resources.
- Identifying new threats to a trustworthy marketplace and creating strategies to address them.
- Delivering programs, resources, and tools to protect consumers and build trust between consumers and businesses in the marketplace.
BBB Institute Executive Director Melissa Lanning Trumpower said:
“Corporate Trust Council members share BBB Institute’s passion for building a network of better businesses and helping people avoid scams through education.”
A few examples of the work BBB Institute has done with its Corporate Trust Council members:
- Upgraded the BBB Scam TrackerSM prevention and reporting platform in 2022 in partnership with Amazon and Capital One. Since launch in November 2022, reports and traffic to the platform have increased significantly.
- Delivered consumer education programs aimed at empowering people to spot scams and avoid losing money and/or personal information.